QBTS is trading at $21.22 (4.1% down) after reporting mixed first-quarter 2026 results where record-breaking bookings were overshadowed by a decline in current revenue.
- The company achieved record Q1 bookings of $33.4 million, representing a nearly 2,000% increase year-over-year.
- Revenue fell to $2.9 million with a net loss of $0.05 per share, largely due to a difficult comparison against a one-time system sale in the prior year.
- Pre-market weakness reflects investor caution as the market weighs robust forward-looking growth against immediate revenue softness and ongoing losses.